Reasons to celebrate 2018
We won’t sugarcoat it: 2018 was a tough year. The words of abolitionist Frederick Douglass frequently came to mind: “This struggle may be a moral one, or it may be a physical one, and it may be both moral and...
Stories
South Carolina Community Loan Fund
Building Healthy Communities in South Carolina
After days of contentious and emotional arguments, South Carolina’s political leaders decided to remove the Confederate flag from the capitol grounds. One lawmaker opened the debate in the House by reading aloud the names of nine parishioners murdered inside Charleston's Emanuel AME Church. The...
Community Economic Development is Social Justice at Work
All too often, economic development excludes community members from the decisions affecting where they live, strains local resources and siphons financial returns to outside developers with no accountability to the community. There is a better way, one that provides communities with the infrastructure and support they need to access capital, address their needs, grow thriving businesses, build...
Taking down the Confederate flag is only the first step
It’s time to address racism and inequality in the South.The Mary Reynolds Babcock Foundation applauds the South Carolina legislature’s decision to remove the Confederate flag from the capitol grounds. The hate crime in Charleston focused the national spotlight on racism in the South; it also forced Southerners to consider the ways we commemorate history and how our symbols are perceived....
Preserving the Social Fabric: Southern CDFIs
A new survey is shining a harsh spotlight on the urgent need for non-predatory financial services in the South. A recent Gallup poll found minority-owned businesses face tougher challenges obtaining loans. The study, commissioned by Wells Fargo, found that 77 percent of black business owners use their own personal cash to finance their businesses, and 47 percent of black-owned businesses are...
Investing in the American Dream
Speaking on the panel, "Social Investing: So What is a CDFI and Why Are They Important to Communities?" at the Southeastern Council of Foundation 's Annual Meeting, Grace Fricks, CEO of ACE Loans told the audience, "The American Dream isn't possible for any of us if it's not possible for low-income people."Community Development Financial Institutions (CDFIs) like...